On April 30th, Apple's CEO revealed during his usual conference call summary, that unlike past Quarters, there would be no guidance provided for their Fiscal Q3 2020. So this will be interesting to see what Apple is able to deliver. One thing we do know is that Apple's iPhone sales in the second largest market in the world in Q2 grew the highest of any local OEM at 32%. Whether the good news was equally successful in other markets is unknown at this time, though we may get some answers shortly.
Apple's Official Statement
Today Apple has announced financial results for its fiscal 2020 third quarter ended June 27, 2020. The Company posted quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.58, up 18 percent. International sales accounted for 60 percent of the quarter’s revenue.
Apple’s CEO Time Cook: "Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments. Cook added that "In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation."
Luca Maestri, Apple’s CFO: "Our June quarter performance was strong evidence of Apple’s ability to innovate and execute during challenging times. The record business results drove our active installed base of devices to an all-time high in all of our geographic segments and all major product categories. We grew EPS by 18 percent and generated operating cash flow of $16.3 billion during the quarter, a June quarter record for both metrics."
Apple’s Board of Directors has declared a cash dividend of $0.82 per share of the Company’s common stock. The dividend is payable on August 13, 2020 to shareholders of record as of the close of business on August 10, 2020.
The Board of Directors has also approved a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder of record at the close of business on August 24, 2020 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.